Input tax credit
This query is : Resolved
05 August 2017
Can a person who is not registered in any pre - gst regime avail input tax credit in the closing stock with him as on 30th June . Provided also that he obtains registration in gst !!!
what conditions are to be satisfied ??
05 August 2017
Yes he can if register in GST.
05 August 2017
Yes. He claim ITC if register.
What are the conditions ITC claim above said way...?
All taxable goods is available for claim ITC. But, Excempt goods can't claim ITC on GST regime....
05 August 2017
Yes it is possible to claim credit .Please refer to Section 140 of the CGST Act and the corresponding provisions of your State GST Act for the conditions .
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